The future of e-commerce in India increasingly looks like an all-American affair

India’s technology industry is bracing itself for the next era of e-commerce warfare, which looks set to be waged and bankrolled by two gigantic corporations located halfway across the world: Amazon and Walmart.

Amazon is already deeply committed to the country, where it has pledged to deploy more than $ 5 billion to grow its business, and now U.S. rival Walmart is said to be inching closer to a deal to buy Flipkart.

Amazon was said to have made a last-minute move to conduct talks with Flipkart, but it seems now that there is intent for Walmart to take the deal, with Flipkart’s founders said to be in favor. Bloomberg cautioned, however, that there are still unresolved issues — including which shareholders will sell, how much they will sell, and whether the Flipkart leadership remains — while there’s also no guarantee that the talks don’t break down.

That said, it is reported that Tiger Global plans to sell nearly all of its 20 percent share and SoftBank will offload “a substantial part” of its 20-percent-plus holding.

At stake is a growing online sales market as more of India’s 1.4 billion population comes online for the first time.

Walmart’s increased focus on India comes after the retailer exited the Chinese market in 2016, selling its Yihaodian service — which it first backed in 2011 — to Alibaba rival JD.com. That deal also saw Walmart work closely with JD.com, essentially using the company as a storefront to reach Chinese consumers.

With the China exit complete, it was then linked with an investment in Flipkart last year. Fast-forward to today and it is poised to take a very major role in India via Flipkart, which most reports indicate remains India’s top e-commerce firm despite Amazon pushing it hard.

Now the firm is aiming outside of its core e-commerce focus, with Amit Agarwal — the head of Amazon India — telling Reuters that he expects groceries and household products to account for half of its revenue in the country within the next five years.

Outside of Flipkart and Amazon, Alibaba has invested considerably in Paytm, which specializes in mobile payments but also includes e-commerce, digital banking and has plans for gaming. Long-time Alibaba ally SoftBank is also backing the company’s Paytm Mall effort — having led a recent $ 450 million investment — but the main battle looks like between Amazon and Walmart-Flipkart if things go as they are reported to be headed.

Walmart declined to comment. Flipkart did not respond to a request for comment for this story.